MARKET WRAP: Indices snap 4-day losing streak, Sensex ends 429 pts higher

All that happened in markets today.

4:06 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

Positive cues were witnessed in the market on hopes that the government is planning to consider some relief measures for the ailing telecom players. On the global front, there is a decrease in new virus cases and close to 80 per cent of the Chinese enterprises are back to work indicating a possible economic recovery. 

3:44 PM

SECTOR WATCH | All sectoral indices on the NSE end higher

3:43 PM

MARKET AT CLOSE | Top gainers and losers on the S&P BSE Sensex

3:41 PM

CLOSING BELL

The S&P BSE Sensex ended 429 points or 1 per cent higher at 41,323 while NSE's Nifty rallied 133 points or 1 per cent to settle at 12,126. 

3:28 PM

MARKET CHECK | Top gainers on the BSE at this hour

3:19 PM

HUL, Bajaj Finance, Nippon Life and 22 other BSE500 stocks hit record high

Shares of Hindustan Unilever (HUL), Bajaj Finance, and Nestle India from the S&P BSE Sensex hit their respective record highs on Wednesday. Besides, ICICI Securities, Nippon Life India Asset Management, AU Small Finance Bank, CreditAccess Grameen, JK Cements, Ratnamani Metals and Navin Fluorine International were among 25 stocks from the S&P BSE 500 index that touched new highs today. READ MORE   

 

3:05 PM

BUZZING STOCK | Wockhardt jumps 9%

3:03 PM

MARKET CHECK

2:25 PM

BUZZING STOCK | Oil India surges 4%

2:21 PM

Index Contributors at this hour

2:12 PM

BUZZING STOCK | Nippon Life India jumps nearly 9%

2:01 PM

NEWS ALERT | Man Ind bags export orders worth Rs 300 crore in MENA region

1:45 PM

Vodafone Idea reverses losses, jumps 48% on heavy volumes

In the past seven trading days, the stock has tanked 42 per cent after the Supreme Court dismissed the petitions of telcos seeking a staggered option to pay their Adjusted Gross Revenue (AGR) related dues. READ MORE   

1:28 PM

NEWS ALERT | Govt to restrict export of 12 formulation of drugs from India: sources to CNBC TV18

>> Restrictions to remain in place till factories in Hubei, China do not resume

>> Govt to soon come up with a statement citing the names of the 12 formulations

1:24 PM

NEWS ALERT | MAS Financial Service declares interim dividend of Rs 6/sh: BSE filing

1:23 PM

Saving 'big trade deal with India' for later, says Trump ahead of visit

The US and India could sign a "trade package" during the visit, according to media reports.

 

Asked whether he expects a trade deal with India before the visit, Trump said, "We're doing a very big trade deal with India. We'll have it. I don't know if it'll be done before the election, but we'll have a very big deal with India." READ MORE

1:11 PM

BROKERAGE RADAR | Centrum Broking on Consumer goods

Rural growth continued to lag urban counterpart, staying at 0.5x urban growth. However, bigger companies continue to do well underpinned by their distribution heft. One classic sign of slowdown viz. dip in the number of new launches was also evident. Additionally, liquidity crisis continues to dent wholesalers and retailers, thereby exerting pressure on trade pipeline. Although visibility on demand pick up is dim at this juncture, once payouts under the direct transfer scheme start reaching a wider base, farmers sees higher incomes on the back of better monsoon, improved rabi crop and agri inflation, things should improve, in our view.

1:03 PM

BUZZING STOCK | Vodafone Idea extends gains

12:51 PM

NEWS ALERT | CCI finds no evidence of collusion among IndiGo, SpiceJet, GoAir: sources to Reuters

12:45 PM

Market check

12:43 PM

PMS players experiment with pay-only-for-profit model, skip fixed fees

Investors typically paid portfolio management service (PMS) providers an annual fixed fee of around two per cent of the money they managed. They also paid them a share of profits made. This was usually around 20 per cent of gains above a certain threshold. This ‘two and 20’ model is giving way to a 'zero and 20' model, according to industry experts. READ MORE

12:31 PM

NEWS ALERT | Expect renewal of contract with Sonatrach, Equinor for US crude supply to India: sources to CNBC TV18

>> Renewal of contract at attractive terms for Indian OMCs

12:26 PM

NEWS ALERT | Aim to sell BPCL by September 30: govt official

>> Aim to release BPCL bid document this fiscal

>> Oil Min recommends selling BPCL Marketing, Refining verticals together; approves initial bid document 

(As reported by CNBC TV18 quoting Agencies)

12:14 PM

Are Indian imports worth $70.4 bn from China at risk due to coronavirus?

In their latest report, analysts at CLSA have pegged the total Indian imports from China in financial year 2018-19 (FY19) at $70.4 billion. A deep-dive in this import basket from China suggests Indian pharma, chemicals and electronic companies could see a disruption in supply chain in case of a prolonged issue with production activity in China. That apart, commodity plays, i.e. metals, and upstream and downstream oil companies, will witness the impact of lower global demand impacting commodity prices, wrote wrote Shaun Cochran, global head of research at CLSA in a co-authored note with Vikash Kumar Jain, an analyst at the firm. READ MORE

11:59 AM

Tech View: Sensex, Nifty see volatile sessions, but trend remains positive

Markets have remained volatile over the past few sessions, mainly owing to stock-specific actions with respect to quarterly numbers, Budget proposals and coronavirus outbreak on the global front. . Here's a look at how frontline indices S&P BSE Sensex and Nifty, and other major indices look on the technical charts. READ MORE  

11:47 AM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ABBOTT INDIA	16050.00	16199.00	593.05	3.84
AEGIS LOGISTICS	260.60	266.95	4.65	1.82
ALKEM LAB	2690.95	2720.00	70.45	2.69
APOLLO HOSPITALS	1762.50	1790.20	-12.85	-0.72
AU SMALL FINANCE	1174.95	1201.90	25.50	2.22

11:30 AM

Bandhan Bank hits fresh 52-week low; down 37% from Oct high

In the past three months, Bandhan Bank has underperformed the market by falling 27 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex. It has slipped 37 per cent from its 52-week high level of Rs 650, touched on October 29, 2019. READ MORE

11:17 AM

BROKERAGE RADAR | Emkay Global Financial Services on LIC Housing Finance

We maintain our estimates and Sell rating with a TP of Rs 371, corresponding to 1x FY22E P/adj. Book. We would be closely monitoring any movement toward the merger. The biggest risk to our merger thesis is technical/regulatory risks, if any, arising over the proposed merger. 

11:15 AM

Coronavirus impact | ONGC tumbles to 15-yr low on low oil prices

Concerns over decline in crude demand led by the spread of coronavirus and in turn fall in oil prices have further weakened Street sentiment, which had remained soft post the domestic oil and gas producing major’s muted December quarter (Q3) performance. READ MORE

11:04 AM

NEWS ALERT | SpiceJet to launch 20 new domestic flights from March 29